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Marsh Launches Insurance Solution for Global CO2 Transport and Storage Projects

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By Marsh

August 19, 2024

TransportStorage

Marsh announced the launch of a new insurance solution specifically designed for the transportation and storage of carbon dioxide (CO2). Available to projects globally, Marsh’s unique solution addresses critical insurance limitations that have previously hindered the rapid advancement of the carbon capture and storage industry.

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The GIS CCUS Brazil platform brings together, on a single website, all public information on carbon capture and storage in the country. Online and free, it provides essential data for the implementation of new projects, such as the amounts of CO2 emitted, existing national infrastructure and potential reservoirs for geological storage.

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InCapture announced the award of Greenhouse Gas Assessment Permit G-15-AP, strategically situated on the North West Shelf of Australia. The award marks a significant step towards a greener future, setting the stage for innovative carbon capture and storage solutions that promise to transform the region’s approach to managing industrial emissions.

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The U.S. Department of Energy’s (DOE’s) Office of Fossil Energy and Carbon Management announced the selection of nine university and industry-led projects to receive $44.5 million in federal funding to advance commercial-scale carbon capture, transport, and storage across the United States.

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Deep Sky, the Canadian carbon removal project developer, has selected a site in Innisfail, Alberta to build the world’s first carbon removal innovation and commercialization centre, Deep Sky Labs. Strategically located an hour north of Calgary, Innisfail is an emerging clean energy hub.

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Deep Sky has made significant progress on its carbon removal projects in Québec. The work includes pre-feasibility studies in Bécancour and Thetford Mines to assess the geologic potential for carbon storage. Thoughtful community engagement work is underway in each location, ensuring transparent communication with local residents and stakeholders.

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Enhancing Indonesia’s CCUS and CCS capabilities, BP Berau Ltd (bp) – as the operator of TangguhProduction Sharing Contract -- and Bandung Institute of Technology signed a Cooperation Agreement to advance research and development of carbon capture, utilization and storage.

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Applied Carbon, a technology company designing automated biochar production machines that convert in-field agricultural crop waste into biochar, announced it has raised a $21.5 million Series A. The funding will be used to deploy a fleet of biochar machines across Texas, Oklahoma, Arkansas, and Louisiana, delivering high durability carbon removal and agricultural services.

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Computer Modelling Group Ltd. (CMG) announced that its comprehensive carbon capture and storage (CCS) solution has been selected by Sval Energi AS to support the Trudvang project, located in the Norwegian North Sea.

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The Petrofac Consulting team in Woking, UK has strengthened its position in supporting the Netherlands’ ambitions for CO2 capture and storage with an award from TotalEnergies EP Nederland BV of multi-million-dollar front-end-engineering design for a CO2 injection platform.

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On July 31st in Anchorage Alaska Governor Mike Dunleavy signed three energy bills into law, one being HB 50. This will create a regulatory framework for the State of Alaska to utilize its geologic resources for carbon capture, utilization and storage.

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Capital Gas, ERMA FIRST and BABCOCK LGE signed a Letter of Intent to install a pioneering Carbon Capture and Storage (CCS) system, CARBON FIT, on board four new liquefied carbon dioxide (LCO2) carriers.

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The Acorn Carbon transport and storage project, a project that aims to capture, transport and safely store CO2 emissions from across Scotland, will be granted £2 million from the Scottish Government.

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Air Liquide's large scale CO₂ liquefaction technology, Cryocap™ LQ, has been selected by Stockholm Exergi to contribute to its Bio-Energy Carbon Capture & Storage (BECCS) project. The CO₂ liquefaction solution allows to transport CO₂ over long distances to carbon sinks for permanent storage, contributing to the viability of CCS projects and emergence of a low-carbon industry.

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Methanex Corporation and Entropy Inc. have entered into an agreement to invest in a Preliminary Front-End Engineering and Design study for carbon capture, utilization and sequestration (“CCUS”) deployment at Methanex’s Medicine Hat, Alberta facility.

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Shell announced the Final Investment Decision for Polaris, a carbon capture project at the Shell Energy and Chemicals Park, Scotford in Alberta, Canada. Polaris is designed to capture approximately 650,000 tons of CO2 annually from the Shell-owned Scotford refinery and chemicals complex.

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Aramco has signed definitive agreements to acquire an equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company, a wholly-owned subsidiary of Air Products Qudra. The transaction, which is subject to standard closing conditions, will also include options for Aramco to offtake hydrogen and nitrogen.

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CF Industries Holdings, Inc. and POET LLC announced a collaboration to pilot the use of low-carbon ammonia fertilizer to reduce the carbon intensity of corn production and ethanol. Demand for ethanol with a lower carbon intensity is expected to increase significantly to meet low-carbon fuel standards.

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TGS announced early access to a comprehensive carbon storage assessment dataset along the Texas and Louisiana Gulf Coast, covering the available General Land Office (GLO) lease blocks. This evaluation will help prospective bidders maximize their bid accuracy, optimize project costs and drive sustainable growth in the CCS sector.

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Strathcona Resources Ltd. announced a strategic partnership with Canada Growth Fund, a $15 billion arm’s-length public investment vehicle, for the development of carbon capture and sequestration (CCS) infrastructure on Strathcona’s steam-assisted gravity drainage oil sands facilities across Saskatchewan and Alberta.

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enfinium has received its first waste delivery by train at its Ferrybridge site in West Yorkshire. This milestone expands the area that enfinium’s Ferrybridge 1 and 2 facilities can receive unrecyclable waste from, reduces road traffic and lowers transport emissions. The trial also highlights the potential for using rail freight to connect the plant to a Carbon Capture and Storage (CCS) cluster, offering an alternative to pipeline connections.

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SBM Offshore and Ocean-Power announced the signing of a Memorandum of Understanding with the intent to collaborate on a floating power generation hub with CO2 capture and storage. The purpose of the partnership is to assess the technical feasibility and commercial readiness to collaborate on the concept, exclusive to the Norwegian Continental Shelf and United Kingdom Continental Shelf.

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In new research published in ACS Sustainable Chemistry & Engineering, the team developed a technique for ultrafast formation of carbon dioxide hydrates. These unique ice-like materials can bury carbon dioxide in the ocean, preventing it from being released into the atmosphere.

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Elemental Energies, announced its acquisition of Norway-based Well Management and Consultancy company, Well Expertise AS. The acquisition forms one of the world's largest specialist wells, subsurface and project management companies, boasting more than 230 experts worldwide.

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A newly designed catalyst created by U of T Engineering researchers efficiently converts captured carbon into valuable products — even in the presence of a contaminant that degrades the performance of current versions.

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ATCO EnPower announced, that together with partner Shell Canada Limited, the Final Investment Decision (FID) has been made to proceed with the first phase of the Atlas Carbon Storage Hub.

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The Iowa Utilities Board (IUB) announced the approval of Summit Carbon Solutions base pipeline project. The project includes 57 ethanol plants across five states.

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Enerflex and BASF have entered into a memorandum of understanding to jointly facilitate the commercial scale deployment of carbon capture, utilization and storage (CCUS) applications.

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A methodology developed by renewable energy pioneers Drax and Stockholm Exergi has been validated by DNV, an organization which delivers world-renowned testing, certification and technical advisory services to the energy sector.

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Piñon Midstream, LLC announced that it has received approval from the United States Environmental Protection Agency for its monitoring, reporting and verification plan for the permanent sequestration of carbon dioxide, a greenhouse gas, in its two acid gas injection wells located at Piñon’s Dark Horse Treating Facility in Lea County, New Mexico.

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